Victory Capital Management Inc. Raises Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Posted by Defense World Staff on May 26th, 2023

Victory Capital Management Inc. boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,167 shares of the real estate investment trust’s stock after buying an additional 5,770 shares during the quarter. Victory Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $8,864,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Baker Ellis Asset Management LLC grew its stake in shares of Mid-America Apartment Communities by 6.2% during the 4th quarter. Baker Ellis Asset Management LLC now owns 18,235 shares of the real estate investment trust’s stock valued at $2,863,000 after purchasing an additional 1,060 shares during the period. Prossimo Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $687,000. First Eagle Investment Management LLC grew its stake in shares of Mid-America Apartment Communities by 26.2% during the 4th quarter. First Eagle Investment Management LLC now owns 902 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 187 shares during the period. Huntington National Bank grew its stake in shares of Mid-America Apartment Communities by 182.9% during the 4th quarter. Huntington National Bank now owns 3,596 shares of the real estate investment trust’s stock valued at $565,000 after purchasing an additional 2,325 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Mid-America Apartment Communities by 1.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 51,498 shares of the real estate investment trust’s stock valued at $8,085,000 after purchasing an additional 720 shares during the period. 91.20% of the stock is currently owned by institutional investors.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 480 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $150.21, for a total transaction of $72,100.80. Following the sale, the executive vice president now owns 16,669 shares in the company, valued at approximately $2,503,850.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on MAA. StockNews.com initiated coverage on Mid-America Apartment Communities in a research note on Thursday, May 18th. They set a “hold” rating for the company. 92 Resources reiterated a “maintains” rating on shares of Mid-America Apartment Communities in a research note on Friday, April 28th. Mizuho cut their price objective on Mid-America Apartment Communities from $176.00 to $159.00 in a research note on Friday, May 19th. Wolfe Research downgraded Mid-America Apartment Communities from a “peer perform” rating to an “underperform” rating and set a $137.00 price objective for the company. in a research note on Monday, May 15th. Finally, The Goldman Sachs Group cut their price objective on Mid-America Apartment Communities from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.30.

Mid-America Apartment Communities Stock Down 0.2 %

Shares of MAA opened at $144.52 on Friday. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 7.91 and a beta of 0.77. Mid-America Apartment Communities, Inc. has a 1 year low of $138.68 and a 1 year high of $190.17. The business’s 50 day simple moving average is $148.65 and its 200-day simple moving average is $156.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.28 and a quick ratio of 0.28.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $5.60 annualized dividend and a dividend yield of 3.87%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 98.25%.

Mid-America Apartment Communities Profile

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Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.